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Co-Working Provider Cove Closes K Street Location

Cove CEO Adam Segal photographed in the company's Chinatown location in 2016.

Since launching its first co-working space in Dupont Circle in 2013, Cove has been making some ambitious moves, but it appears the company is taking a step back.

Cove shut down its 1990 K St NW location on Monday, Borderstan reports.

The company, which, for a monthly fee, grants its users access to all of its locations with no assigned desks, still has five DC spaces in Chinatown, Dupont Circle, Capitol Hill, Columbia Heights and 14th Street

CTO Jeremy Scott, who founded the company with CEO Adam Segal (above), tells Bisnow that Cove still plans to open more DC locations in 2017. He says the K Street location was just a few blocks from the south Dupont Circle space, so they decided to close the smaller one and focus on expanding to new neighborhoods.

"We spent the summer making some awesome changes," Jeremy said. "K Street was a little on the small side. We didn’t think we could bring it to the same standards as the others."

Over the summer, Cove opened its first location outside of DC in Cambridge, MA's Kendall Square, near MIT, where Jeremy is based. When we caught up with him over the summer, Adam said they were considering other cities like New York, Chicago and San Francisco, but Jeremy said they are now focused on growing their DC and Boston-area presences. 

As co-working broadens its tenant base beyond tech startups, WeWork opened a K Street location this summer and MakeOffices is opening one this month. [Borderstan]